Greatland Gold (LON: GGP) has identified multiple brand-new targets at its exciting Scallywag licence, with results from the last four holes of a 2020 drilling campaign announced on Monday.
The latest results, which are highly encouraging, come from the first stage of an extended drilling programme. This programme was carried out across Greatland’s wholly owned licences, as well as its Juri joint venture (“JV”) with Newcrest Mining (ASX:NCM).
The Scallywag licence is located in Western Australia’s Paterson region and is 100% owned by Greatland. It already has four pirate-themed targets: Kraken, Barbossa, Blackbeard, and London.
However, thanks to continuing geological interpretation, combined with information from drilling and regional aeromagnetics, even more targets have been found.
This includes Architeuthis – another name for the giant squid – a magnetic anomaly 600 metres (“m”) long just 1 kilometre (“km”) to the north of Kraken.
Architeuthis is also 9km north-west along strike of Greatland’s Havieron JV with Newcrest. The company said Architeuthis could “represent the primary mineralisation along the Scallywag Synform”.
Assay results from the four holes were combined with results from the first three holes, released back in January. These results provided additional evidence for “pathfinder element anomalism” that could be “distal to intrusion-related mineralised systems” and possibly along strike of current drilling.
Not only that, but assay and logging at the Kraken target intersected “prospective target lithologies” as well as “pathfinder element anomalisms” like silver, bismuth, copper, and lead.
At the London target, initial sample results included very high-grade silver, copper and tungsten results of 872 parts per million (“ppm”) silver, 1,137ppm copper, and more than 2,000ppm tungsten in interval 349.0m - 350.0m.
Due to suspected contamination for this London interval, check resampling and analysis of washed ¼ core took place. While this confirmed results, it is still probable this interval was the result of contamination so follow-up drilling is scheduled.
The next step for Greatland is a staged exploration programme that will “methodically drill test a series of targets” including Swan, Teach and Architeuthis at Scallywag.
At Juri, Greatland plans to test the existing Goliath, Outamind, Los Diablos and Parlay targets as well as newly-defined targets in the Black Hills area. In the Paterson Range East area, Greatland will test the Tama, N5 and A9 targets.
Greatland plans for drilling to take place all the way through the 2021 and 2022 field sessions.
Chief executive Shaun Day praised the results for providing yet more “evidence that the Scallywag licence is prospective for intrusion-related mineralised systems”. He was especially pleased that the initial targets again intersected pathfinder elements associated with nearby systems.
Day said “these encouraging initial drill results” had considerably improved the company’s understanding of Scallywag geology. Not only that, but results identified “multiple compelling targets that merit follow-up drilling in the coming weeks and months” in the form of Swan, Teach, and Architeuthis.
“These will form an important part of the comprehensive exploration campaign we are conducting across our 100% licences and our Juri joint venture,” Day concluded.
Author: Anna Farley
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